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20121201
20121231
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Search Results 0 to 21 of about 22 (some duplicates have been removed)
tonight from washington. >> pelley: good evening. as bank slogans go they don't come any worse than this: the preferred financial institution of drug cartels and money launders. that is a quote today in a u.s. department of justice report about h.s.b.c. holdings, one of the largest banks in the world. to avoid criminal prosecution, h.s.b.c. admitted today that it laundered more than $800 million for mexican drug cartels and covered up illegal transactions for burma, iran, sudan, cuba, and libya. those nations were under banking sanctions because of human rights atrocities, terrorism, or, in iran's case, a nuclear program. the british bank will pay $1.9 billion to the u.s. government, the largest such fine in history. senior correspondent john miller is in new york following the story for us tonight. john? >> reporter: scott, it's a case that has everything: everything except an arrest. and that struck some as odd because in an 80-page document of court papers, the bank admits to almost going out of its way to act as a financial clearing house for international pariahs and drug dealers. h
in washington this weekend. >> reporter: the president declared himself modestly optimistic congress could still reach an agreement to head off huge tax hikes on january first but he also warned lawmakers to get their work done. >> the american people are not going to have patience with a self-inflicted wound on the economy. >> reporter: senate republican leader mitch mcconnell called the white house meeting a good one and he told his fellow republicans he hoped to have a fiscal cliff recommendation soon. >> we will be working hard to see if we can get there in next 24 hours and so i am hopeful and optimistic. >> reporter: but the sticking point remains finding something that can make it through the house with enough support from republicans. >> it seems like the 250 threshold that the president proposed previously is unlikely to pass the house in its current form, and so without some sort of additional compromise there it seems unlikely that we're going to get something done before the end of the year. >> susie: you know thanks for that report. i am just wondering from all of the reporting you
a year. a u.s. senator, scott, makes $174,000. an pelley: nancy, thank you. washington state's new marijuana law went into effect today, make together first state to legalize the drug for recreational use itt people 21 or older. john blackstone tells us those that are supposed to enforce law are a little foggy on the details. >> reporter: at seattle police headquarters, jonah spangenthal lee was given the task of explaining the state state's new marijuana law on an online guide. what do you call it? e. mari-what-now? the guide to legal pot use in x.attle. >> reporter: a lot of people are tying, that. it will take a year for the state to write regulations for selling marijuana illegally. for now, that leaves some confusion gaffes. tir example, it's still illegal let moke pot publicly, but last night people did. let me get this straight-- you can possess it, you can buy it, but nobody is allowed to sell t. s> that's correct. alreporter: and nobody is allowed to grow it right now, either. >> that's correct as well. >> reporter: so how do you get legal pot? >> i couldn't tell you. >> r
. president obama is cutting short his holiday in hawaii. he's flying back to washington tonight as the clock ticks toward the fiscal cliff. nancy cordes is with the president in honolulu. nancy? >> reporter: jim, the president is trading the sand for snowy washington. he'll be back in the nation's capital by mid-morning tomorrow, and most of the u.s. senate will be attempting to get back there by then, as well. but house leaders have not given their members the signal to return to washington and say they won't until the u.s. senate passes a bill to avert the fiscal cliff. as the president wrapped up his vacation, federal workers trickled back into the nation's capital. but the only people who can avert the fiscal cliff, members of the house and senate, have not returned, and, in just six days, a 2% payroll tax is set to expire, along with the bush era tax cuts, shrinking the average workers' paycheck in 2013 by about $1,500. long-term unemployment benefits for about two million jobless americans are also set to expire, and $110 billion worth of spending cuts to both domestic and defense prog
jersey. are you paying attention to what's going on in washington right now? >> of course we are. >> reporter: the mejia's $50,000 a year income puts them almost in the middle of american households. if the payroll tax cut is not extended, those families would pay an average of $1,035 a year more in social security taxes. do you have room to cut back? >> no, sir, i don't. i guess we'll do some type of magic like we do every month here in our household, that's what i call it. >> reporter: if the tax cut expires, pay cut contributions will go from 4.% to 6.2%, that's $115 billion a year that will go to deficit reduction instead of being pumped into the economy. heidi cherholts is an economist. >> it's less money for consumers to spend that means the demand for goods and services will drop. who provides goods and services? workers. so employment will fall. >> reporter: those in favor of allowing the tax cut to expire argue money for social security payments has to come from somewhere. with although mejia says that somewhere will mean doing without some of the basics. >> might be a p
was unemployed for a year in washington state then two years ago he got a job as an accountant with the federal government so the family of six-- their savings depleted-- moved across the country to woodbridge, virginia. his salary of a little more than $70,000 is less than what he used to make. >> before we lost our job they were in-- two were in piano and we haven't been able to do things like that. >> reporter: what's the hardest part of this? >> for me it's my kids, knowing that i want more for them. my oldest, who's the one that's most aware of what we've been going through the last couple years she asked me recently, this summer, she's like "mommy, when are we going to stop feeling like we're poor." i was like, "honey, it's not that we're poor, we just can't do a lot of things that other people do." >> reporter: sean and jody say it's soon going to become even tougher because they believe it's unlikely that congress and the president will reach a deal to avert the fiscal cliff. if they're right, according to the nonpartisan tax policy center, families such as the watsons with annual incom
, the country deserves folks in washington willing to compromise on behalf of the greater good. he was talking about a budget deal to avoid the fiscal cliff and he said he wanted it by christmas. nancy cordes is on capitol hill for us tonight. nancy? >> reporter: well, scott, it now looks like that is in doubt. aides on both sides today told us that the talks, which had been moving so quickly over the weekend, have slowed to a crawl and the president and speaker boehner traded ultimatums today. never a good sign this close to the deadline. >> and i hope that the president will get serious soon about providing and working with us on a balanced approach. >> reporter: house speaker john boehner warned today there will be no deal until the president agrees to more spending cuts. the president said he's cut enough. >> if you look at the package that i've put forward it is a balanced package by any definition. and we have put forward real cuts in spending that are hard to do in every category. >> reporter: mr. obama's most recent offer includes roughly $850 billion worth of spending cuts and raises
you. nobody is taking higher ground in washington. af, after the election, you were hoping for a statesman to lead the way to compromise, no luck so far. now there are 32 days until a tax increase for most americans and huge spending cuts take effect automatically. the negotiations to avert that descended into name calling today. yesterday the obama administration proposed tax revenue increases of $1.6 trillion over ten years, guaranteed to anger republicans. and it did. ewatt andrews is on capitol hill for us tonight. wyatt? >> reporter: scott, leading republicans are now calling the president's latest fiscal cliff proposals-- and these are quotes-- "unreasonable, not serious even ludicrous." on the negotiations that are necessary to avoid the cliff, here's how house speaker john boehner described the status there. >> no, there's a stalemate. let's not kid ourselves. i'm not trying to make this more difficult. >> reporter: what set off this reaction was the president's proposal for $1.6 trillion in new taxes over ten years with tst of that coming from a tax hike on single
of those who've already died. >> pelley: fascinating, jim, thank you very much. in washington today, the republicans responded to the white house budget plan with a proposal of their own. it would raise the eligibility age for medicare and people on social security would get smaller cost of living increases. unless there's a compromise by the end of this month, taxes will go up automatically for nearly every american. there is a lot at stake. so we asked wyatt andrews to make sense of how these budget plans compare. wyatt? >> reporter: scott, this republican counterproposal today is long on reducing the deficit and saving big on medicare, but it leaves the two sides still hundreds of billions of dollars apart and they are not close on the basic approach to solve the fiscal cliff. in a letter to the president, house republicans called their offer a fair middle ground. it's a ten-year framework that cuts the deficit by $2.2 trillion. it includes $600 billion in health care cuts-- mostly medicare and medicaid-- $300 billion in other mandatory spending and $300 billion in cuts to all ot
to add jobs in november, despite worries about a looming fiscal cliff in washington and the effects of a k perstorm in the northeast. >> thank you very much. or reporter: at chobani, the greek yogurt maker based in new york, c.e.o. hamdi ulukaya has been hiring. how many employees do you have? >> close to 2,000. >> reporter: the turkish-born ulukaya started chobani just four years ago. since then, greek yogurt sales re g exploded. chobani is now nearly a billion- dollar business. >> think we're going to be over 5,000 to 6,000 people by five years. >> reporter: so another 3,000 or ll000. th yeah. >> reporter: nationally job f owth has been steady but slow. so far in 2012 the economy has added an average of 151,000 jobs a month. >> we are creating more jobs but the pace of that hasn't really thanged much in the last two years. >> reporter: this chief investment strategist with the the blackrock says the economy is caught in a circle. >> one reason the job market isn't better is consumers aren't spending and the reason consumers aren't spending is etcause the job market isn't i wier. t
of rain on the northeast u.s. >> pelley: dean, thanks very much. wo we is a chill in washington over those fiscal cliff negotiations. in less than two weeks, there's roing to be a big tax increase americans and across the board t ts in the federal budget. the speaker of the house, and the president are trying to negotiate a solution, but prey're deadlocked on the question of raising taxes. president obama has proposed an $er taxes for households making more than $400,000. speaker boehner wants a tax increase only for households making a million or more. house is going to vote on that coposal tonight, and nancy cordes is on capitol hill for us. nancy. >> scott, shortly before that vote was due to take place house speaker john boehner announced he was canceling it with no democratic support, he needed almost every republican to get on board. and in the end he didn't e ve the votes. negotiations between speaker boehner and the white house ground to a halt today as everyone watched to see if he and house republican leaders would get the votes they needed to pass plan b, a bill preventing tax r
" with scott pelley. with scott pelley. >> pelley: good evening, washington left for christmas tonight with most americans facing a major tax increase in ten days. negotiations to avoid that went off the rails last night when some house republicans refused to go along with their own leadership. this evening, the president described himself as a hopeless optimist who was ready and willing to make a deal, but the speaker of the house said how we get there god only knows. we have two reports tonight. first, we'll go to major garrett at the white house. major? >> reporter: scott, tonight there is no bill written to avert the fiscal cliff. there is no road map to the drafting of that legislation. there are only hopes and aspirations-- both much smaller than the president would prefer. this is the president's own plan "b", a scaled-back bill that seeks to protect tax rates for households earning less than $250,000 and extend jobless benefits for two million americans out of work for six months or more. it's a shadow of the big deal contemplated only days ago. >> in ten days we face a deadlin
to washington this morning. but he made no public statements. if there is no deal on a budget by new year's day, nearly every american will see a tax increase. we have two reports on the stalemate, beginning with nancy cordes on capitol hill. nancy. >> reporter: jeff, democratic aides tell cbs news that senate majority leader harry reid is ready to introduce legislation that would avert the fiscal cliff, but only if he gets assurances from republican leaders that they won't try to block it. that standoff is creating some tension on capitol hill that spilled on to the senate floor today. >> the senate will come to order. >> reporter: in the normally genteel senate, leader reid unleashed a tirade today about house speaker john boehner, accusing him of running a dictatorship in the house. >> speaker boehner is not willing to negotiate. we have not heard a word from leader mcconnell. nothing is happening. >> reporter: mitch mcconnell, the top republican in the senate, said it's reid who hasn't reached out for weeks. >> the phone never rang. and so now here we are, five days from the new year, and w
the pacific northwest. heavy rain near everett, washington, triggered a mud slide on a 100-foot cliff. look what happened next! as the mud slammed into seven cars of a passing freight train pushing them all the rails. nbc news correspondent richard engel is free from his captors in syria. we'll have that story next. wit. the usual, bob? not today. [ male announcer ] bob has afib: atrial fibrillation not caused by a heart valve problem, a condition that puts him at greater risk for a stroke. [ gps ] turn left. i don't think so. [ male announcer ] for years, bob took warfarin, and made a monthly trip to the clinic to get his blood tested. but not anymore. bob's doctor recommended a different option: once-a-day xarelto®. xarelto® is the first and only once-a-day prescription blood thinner for patients with afib not caused by a heart valve problem, that doesn't require routine blood monitoring. like warfarin, xarelto® is proven effective to reduce the risk of an afib-related stroke. there is limited data on how these drugs compare when warfarin is well managed. no routine blood monitoring me
home. >> pelley: while our attention was on newtown, connecticut, in washington there was real progress on avoiding the so-called fiscal cliff. that's the big tax increases for most americans and across-the-board spending cuts that would kick in in just two weeks. major garrett is at the white house for us tonight. major? >> reporter: scott, top white house advisors tell us house speaker john boehner broke the logjam when he agreed to raise some income tax rates. this comes with a price, one that president obama is not yet agreed to pay. the president and boehner met in the oval office for just under an hour. in a call to mr. obama friday just after his statement on the connecticut school massacre boehner for the first time agreed to raise income tax rates he proposed raising the top rate from 35% to 39.6% on households earning one million dollars a year or more. mr. obama wants to raise rates on householdss making $250,000 or more. congressional sources say boehner has most house republicans with him. here's the catch, republicans want mr. obama to agree to one trillion in spending cut
have no idea what's going to happen in washington. lee cowan has that part of the story. >> reporter: joanne is running the numbers. her payroll is due this week. although she at least now has a hint of what taxes to withhold from her dozen employees, that's only half her worry. unresolved spending cuts are the other. >> it's very uncertain and very unnerving and very... causes a lot of anxiety and a lot of lack of sleep. >> reporter: she's the president of golden state magnetic and penetrant, a $2 million a year los angeles company that inspects, cleans and paints high-tech aircraft and aerospace parts. everything from fighter jets to mars rovers. any cuts in defense spending could mean cuts in her business too. and waiting has her on a fiscal cliff of her own. what does it do to there's another month, two months, three months of this? >> it could potentially impact the entire year. it doesn't allow you to make any plans or focus on what your future expansion or growth or anything is. >> reporter: it could shoot a hole in your whole year. >> yes. reporter: california has the most wo
it easier to go. dulcolax stool softener. make yourself comfortable. of washington about the future of medicare and social security. anncr: but you deserve straight talk about the options on the... table and what they mean for you and your family. ancr: aarp is cutting through all the political spin. because for our 37 million members, only one word counts. get the facts at earnedasay.org. let's keep medicare... and social security strong for generations to come. tyou wouldn't want your adoctor doing your job, hello... so why are you doing hers? only your doctor can determine if your persistent heartburn is actually something more serious like acid reflux disease. over time, stomach acid can damage the lining of your esophagus. for many, prescription nexium not only provides 24-hour heartburn relief, but can also help heal acid-related erosions in the lining of your esophagus. talk to your doctor about the risk for osteoporosis-related bone fractures and low magnesium levels with long-term use of nexium. possible side effects include headache, diarrhea, and abdominal pain. other ser
Search Results 0 to 21 of about 22 (some duplicates have been removed)